Rostekhnadzor signs amended four-party refinery modernization agreements with 7 cos
MOSCOW. April 4 (Interfax) - Russian technical standards watchdog Rostekhnadzor has signed amended four-party agreements on oil refinery modernization with seven companies, Rostekhnadzor chief Alexei Aleshin told Interfax.
"As of now Rostekhnadzor has signed seven updated agreements, with Lukoil , Surgutneftegas , Gazprom Neft , Tatneft , ForteInvest (the main owner of Orsknefteorgsintez ), Ilsky Oil Refinery and NefekhimServis (Yaisky Oil Refinery)," he said.
"These agreements have fine-tuned the list and dates for commissioning the secondary oil refining installations to produce quality fuels meeting Euro 5 standards, as well as the fuel volumes the company and the refineries plan to supply to the domestic market," Aleshin said.
Under the four-party agreements, the oil refining companies assume responsibility for modernizing refineries and transitioning to sale of Euro 5 fuels by July 2016.
After the switch to Euro 5 has been completed, the agreements provide for gradual addition of secondary and tertiary refining facilities. The four-party agreements run to 2020.
